Advise required on debt with 1st Credit Ltd

poppasmurf_bewdley

Wingco44 wrote: »

They probably paid less than £150 for this debt. £300 might not be enough. I would try £400 if you fear going in too low.

I suggest you contact them, informing them that a relative has offered to lend you £400 to clear the debt, and you cannot go any further.

You might also add that in the event of the offer being refused, you will seriously consider the alternative of seeking a Debt Relief Order which will mean the DCA will get sweet fanny adams.

It all depends on which of you can speak the most bull**** - you or them!

The DCA will have paid no more than £50 for this debt, if indeed they paid that much. More like £20-£30.

sourcrates

Popps,

Seen the Scotsman yet on your travels ?

poppasmurf_bewdley

sourcrates wrote: »

Popps,

Seen the Scotsman yet on your travels ?

It's coming to the Severn Valley in September, along with Tornado, so will be running along the bottom of our fields in Arley.

001721

Thanks for the advise. Will try this, I'm pretty confident in my bulls****ing capabilities so will give it a go.

001721

Okay so after reiterating to 1st credit that I could only afford to pay £400 due to this being offered to me by a relative and should they not accept this I'll be getting a Debt Relief Order I have received the below response -

"Thank you for contacting 1st Credit.

As previously advised, unfortunately your partial settlement offer of £400.00 is less than we would be willing to accept.

Your account has been placed on hold for 30 days to provide you with time to seek independent advice regarding your Debt Relief Order.

If you are experiencing financial difficulties, there are free debt advice options available to you.

These independent organisations provide expert advice on anything from payday loans, arrears with priority debts, student debt advice, unemployment, and low income debt problems, debt help after a bereavement or just general debt stress.

Step Change (0800 138 1111)
National Debtline (0808 808 4000)
Your local Citizens Advice Bureau

Please contact us within the next 30 days to provide an update. Should no contact be forthcoming, your account may be subject to further letters, telephone calls, SMS and emails."

What do you think the best thing for me to do now is?

I could say that I have already spoken to both the National Debtline and my local Citizens Advice Bureau and they have both advised me to offer as much as I can afford which is £400 and they have both suggested I get a Debt Relief Order should 1st credit not accept this.

Does that sound plausible? Or any better suggestions?

poppasmurf_bewdley

Personally, if you fit the criteria, I would go for the Debt Relief Order. Do what is best for you, not the DCA's who wouldn't hesitate to screw you if they could.

sourcrates

Go for the DRO, would be my advice, as your !!!!!!!!e skills arnt up to scratch lol

fatbelly

You offered 26%, they responded with 70%.

There's probably a deal available here at 45-50%

001721

I think you've misunderstood, the whole point of me trying to sort this out is so I can improve my credit rating/report. I don't need a debt relief order nor would I qualify for one, plus that would decrease my chances of getting credit. I can afford to pay the £1067 1st credit have said they'll accept, I just want to pay as little as I have to..

sourcrates

001721 wrote: »

I think you've misunderstood, the whole point of me trying to sort this out is so I can improve my credit rating/report. I don't need a debt relief order nor would I qualify for one, plus that would decrease my chances of getting credit. I can afford to pay the £1067 1st credit have said they'll accept, I just want to pay as little as I have to..

Go with Fabellys advice above then !!